The Community Reinvestment Act ("CRA”) was enacted in the 70’s to encourage certain depositories to provide various financial services and products to borrowers throughout their respective service areas, including low- and moderate-income neighborhoods. Regulations implementing CRA have become more outdated in recent years as the communities and markets served by financial institutions have changed or migrated to Internet offerings. The federal banking agencies and others, including some states, are updating and applying these regulations to new situations and providers, and our attorneys have been assisting clients as these regulations evolve.

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